About Us

LANGUAGE:

VisionFund Republica Dominica is a leading microfinance institution established as a subsidiary of VisionFund
International, a global microfinance institution operating in Africa, Asia,
Latin America and the Middle East/Eastern Europe. VisionFund International is a
wholly owned subsidiary of World Vision International, a Christian relief
development and advocacy organization. Working together, we provide the
foundations for local economies to flourish in healthy and safe communities.

We provide financial services to people
who would otherwise have little or no access to credit. The well-being of
children, families and communities in the Dominican Republic is our main focus. We serve the country’s poorest people by
helping them start or grow their own businesses through loans of just a few
hundred dollars.

VisionFund Republica Dominicana began it's microfinance work as FIME, and has just recently changed it's name. For over a decade we have been helping the poor, who are highly capable of starting a business. Our financial services complement and further World Vision's aims to reach out to those living in poverty. These combined interventions help to improve their lives; their children’s future; and the communities where they live.

The Dominican Republic has seen a large shift from being a predominantly agricultural exporter, to a service sector provider in areas such as tourism. More than 63% of workers now work in service industries and only 14% in agricultural occupations. However, the country’s unemployment rate is currently at 13%.

The GDP is at more than $94 billion, but the richest 10% of the population receives 40% of this wealth. This leaves nearly 35% of the population under the poverty line.

There are more than 617,000 micro businesses in the Dominican Republic, but microfinance services are only reaching 17% of those in need. This creates huge opportunities for our microfinance institution to provide services to a growing need, especially in the agricultural field.

The opportunity to start and own your own business is the alternative to the lack of jobs currently in the Dominican Republic. These jobs generate the revenue needed to sustain families and households across the country.

Milena Ureña has been serving in the role of CFO
of VisionFund Dominican Republic since 2009 and took up the role of CEO at the
beginning of fiscal year 2018. She has a degree in business and has over 14
years’ experience working in microfinance institutions.

We are also actively involved with the funder CITI Foundation and giving out CITI Awards to business owners throughout their network. These individuals are recognised for their innovative and productive initiatives that positively impact their communities.